ADDED
References to 2025, 2024 and 2023 mean the fiscal years ended November 29, 2025, November 30,2024 and November 25, 2023.
Approximately 60% of our wholesale sales arise from our network of 86 Company-owned and licensee-owned Bassett Home Furnishings ( BHF ) stores.
The stores highlight our custom furniture design and manufacturing capabilities, free in-home or virtual design visits ( home makeovers ) and coordinated decorating accessories.
Bassett also has a significant traditional wholesale business with more than 1,000 open market accounts.
Most of the open market sales are through Bassett Design Centers and Bassett Custom Studios which function as a store within a multi-line store featuring the Company s custom furniture capabilities.
The wholesale business, including the Lane Venture outdoor brand, also services general furniture stores and a growing number of interior design firms through a network of over 30 independent sales representatives who have stated geographical territories.
We began supplementing the digital outreach strategy with added direct mail and television late in 2024 and expect to continue with a balanced blend of both digital and traditional direct mail and television in 2026.
While traffic to the website decreased 8% during 2025, sales conversion rates increased 28% resulting in a 25% increase in total web sales.
Although e-commerce sales continue to be small relative to in-store sales, we will continue to invest in ongoing improvements to the aesthetics and user experience on our website while not compromising on our in-store experience or the quality of our in-home makeover capabilities.
As of the end of 2024, we had substantially completed the liquidation of Noa Home s assets and liabilities.
REMOVED
References to 2024, 2023 and 2022 mean the fiscal years ended November 30, 2024, November 25,2023 and November 26, 2022.
Our products are sold primarily through a network of Company-owned and licensee-owned branded stores under the Bassett Home Furnishings ( BHF ) name, with additional distribution through other wholesale channels including multi-line furniture stores, many of which feature Bassett galleries or design centers.
We also sell our products through our website at www.bassettfurniture.com.
With 87 BHF stores at November 30, 2024, we have leveraged our strong brand name in furniture into a network of Company-owned and licensed stores that focus on providing consumers with a friendly and casual environment for buying furniture and accessories.
In order for the Bassett brand to reach markets that cannot be effectively served by our retail store network, we also distribute our products through other wholesale channels including multi-line furniture stores, many of which feature Bassett galleries or design centers.
We use a network of over 30 independent sales representatives who have stated geographical territories.
We believe this blended strategy provides us the greatest ability to effectively distribute our products throughout the United States and ultimately gain market share.
The BHF stores feature custom order furniture, free in-home or virtual design visits ( home makeovers ) and coordinated decorating accessories.
We expect to supplement the digital outreach strategies in 2025 with added direct mail and television.
Although e-commerce sales continue to be small relative to in-store sales, we are pleased that we have seen a greater than 20% e-commerce sales increase over the back half of the fiscal year.